Benchmarking the Financial Sector in the Southern and Eastern Mediterranean Countries and Projecting 2030 Financial Sector Scenarios

MEDPRO Technical Report No. 31/March 2013

22 Pages Posted: 7 Jun 2013

See all articles by Rym Ayadi

Rym Ayadi

HEC Montreal ; HEC Montreal

Emrah Arbak

Centre for European Policy Studies (CEPS); University of Lyon II - Groupe dAnalyse et de Théorie Economique (GATE)

Sami Ben Naceur

International Monetary Fund (IMF)

Willem Pieter De Groen

Centre for European Policy Studies (CEPS)

Date Written: March 22, 2013

Abstract

This paper aims at devising scenarios for the development of the financial system in the southern and eastern Mediterranean countries (SEMCs), for the 2030 horizon. The results of the simulations indicate that bank credit to the private sector, meta-efficiency and stock market turnover could reach at best 108%, 78% and 121%, respectively, if the SEMCs adopt the best practices in Europe. These scenarios are much higher than those of the present levels in the region but still lower than the best performers in Europe. More specifically, we find that improving the quality of institutions, increasing per capita GDP, opening further capital account and lowering inflation are needed to enable the financial system in the region to converge with those of Europe.

Keywords: Financial Sector, Southern and Eastern Mediterranean, SEMCs

Suggested Citation

Ayadi, Rym and Ayadi, Rym and Arbak, Emrah and Ben Naceur, Sami and Pieter De Groen, Willem, Benchmarking the Financial Sector in the Southern and Eastern Mediterranean Countries and Projecting 2030 Financial Sector Scenarios (March 22, 2013). MEDPRO Technical Report No. 31/March 2013, Available at SSRN: https://ssrn.com/abstract=2275295

Rym Ayadi (Contact Author)

HEC Montreal ( email )

3000, Chemin de la Côte-Sainte-Catherine
Montreal, Quebec H2X 2L3
Canada

HEC Montreal ( email )

3000, Chemin de la Côte-Sainte-Catherine
Montreal, Quebec H2X 2L3
Canada

Emrah Arbak

Centre for European Policy Studies (CEPS) ( email )

1 Place du Congrès
Brussels, 1000
Belgium

University of Lyon II - Groupe dAnalyse et de Théorie Economique (GATE) ( email )

93, chemin des Mouilles
Ecully, 69130
France

Sami Ben Naceur

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Willem Pieter De Groen

Centre for European Policy Studies (CEPS)

1 Place du Congres, 1000
Brussels, 1000
Belgium

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